Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
Tuesday's trading session saw benchmark indexes close at a lower note. The Sensex ended the day at 73,677.14, slightly lower than its previous day's closure of 0.26 per cent, while the Nifty fell by 0.22 per cent to close at 22,356.30. In a similar vein, the Broader market underperformed as well, with Nifty Mid-Cap closing 0.27 per cent down and Nifty Small-Cap falling 1.24 per cent.
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The India VIX, which measures market volatility, has decreased by 3.64 per cent, indicating a fall in market volatility.
Top 3 price-volume breakout stocks
Infibeam Avenues Ltd: The stock of Infibeam Avenues Ltd closed higher today at Rs 37.1, marking a 5.70 per cent increase from the previous close. There was a noticeable price volume breakout, accompanied by a volume spike, indicating increased buying interest. Additionally, the symmetrical triangle breakout suggests a potential continuation of the uptrend. The stock is approaching its 52-week high, which may act as a resistance level. The Relative Strength Index (RSI) is at 59.52, indicating bullish momentum. Considering prior multibagger gains of 72.03% from the base pattern breakout, the breakout level is observed at Rs 40.00 with a suggested stop loss at Rs 33.00.
Union Bank of India Ltd: Union Bank of India's stock traded at Rs 158 today, up 6.15 per cent from the previous close. It is currently trading above its 50-day Exponential Moving Average (EMA) and around the 20-day EMA, indicating bullish sentiment. The symmetrical triangle breakout, accompanied by a price volume breakout and a volume spike, suggests further upward movement. The RSI at 68.12 indicates strong buying momentum. Additionally, the stock has broken its 52-week high, further supporting the bullish outlook.
Central Bank of India Ltd: Central Bank of India's stock saw a bounce back from minor support today, closing at Rs 67.45, up 7.15 per cent from the previous close. A bullish candle formation suggests potential continuation of the uptrend, with the stock moving towards a prior high breakout. The RSI at 59.84 indicates bullish momentum. Moreover, there was a price volume breakout accompanied by a significant spike in volume, indicating strong buying interest. However, the stock may face resistance at its 52-week high.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Infibeam Incorporation Limited
|
37.1
|
12,09,53,627
|
|
2
|
Union Bank Of India
|
158
|
6,37,32,815
|
|
3
|
Central Bank Of India
|
67.45
|
5,60,31,513
|
|
4
|
Indian Overseas Bank
|
69.45
|
5,24,27,992
|
|
5
|
Motherson Sumi Systems Limited
|
126.5
|
4,43,16,591
|
|
6
|
Uco Bank
|
60.6
|
4,34,36,613
|
|
7
|
Pnb Gilts Limited
|
119.05
|
1,06,98,546
|
|
8
|
Tata Chemicals Limited
|
1060.3
|
94,68,021
|
|
9
|
Punjab & Sind Bank
|
67.45
|
92,93,257
|
|
10
|
Ncc Limited
|
263.35
|
89,70,731
|
Disclaimer: The article is for informational purposes only and not investment advice.